USDA released its monthly Cattle on Feed (COF) report on Friday. The report was neutral, with inventory, marketings and placements all coming in right at the industry average pre-report estimates. The 1 February inventory of all cattle and calves on feed in feedlots with 1,000 head or more capacity was 11.9 million head and January placements were 1.96 million head. Placements were the only category that did not match with pre-report expectations, coming in below. While supportive, in context to the whole report, the lighter than expected placements probably were not enough to be considered bullish.
Marketings in January were 1.93 million head. The average daily marketing of cattle was 91,952 based on 21 workdays inJanuary. Marketings f...
What You Need to Know Today: Russia rejected calls for a ceasefire in the Black Sea, including a proposal to halt attacks on civilian shipping that could help restore grain flows from Ukrainian ports. Tyson Foods announced plans to permanently close its Joslin, Illinois, beef processing facili...
The big news in the cattle markets yesterday was Tyson Foods’ move to close two more beef plants. One of them, the Joslin, Illinois, plant was shuttered immediately after the announcement. The other, in Eagle Mountain, Utah, is a case-ready plant that does not slaughter cattle. Tyson also...
The Bureau of Labor Statistics (BLS) released the Consumer Price Index (CPI) on Wednesday. In July, the CPI rose 0.1 percent, seasonally adjusted, and rose 3.4 percent over the last 12 months, not seasonally adjusted. The index for all items less food and energy, or the “core” infla...
